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More options for tenants in Dubai
The huge levels of construction in Dubai will flood the market with office real estate, according to market consultants.
A survey from Colliers International, a global real estate consultant, has verified that Dubai's estimated 27 million square feet of confirmed constriction will favour prospective tenants.
Ian Albert, regional director, said that such high level of development which will endow the emirate with office space equivalent to Geneva, Beijing, Rio de Janeiro and Singapore would stimulate increased competition and more choice for tenants.
"Attractive rental price and payment terms, increased rent free periods and equitable lease conditions, together with improved finishing levels, are expected," he said.
"Even with many of the world's financial centres registering sizeable rent increases in the last nine months, Dubai has managed to maintain its reputation as one of the most competitive global cities to rent office space," Mr Albert added.
The survey followed recent news that the Dubai government will reward foreign investors in property with a resident visa.
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10-20% pa for 12 years
Contracted income
with guaranteed
capital appreciation
Agricultural land
investment operated by
public listed company.
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